Franky Minnifield Sells 3,900 Shares of Community Trust Bancorp (NASDAQ:CTBI) Stock

Community Trust Bancorp, Inc. (NASDAQ:CTBI) Director Franky Minnifield sold 3,900 shares of Community Trust Bancorp stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $307,515.00. Following the sale, the director directly owned 8,320 shares of the company’s stock, valued at $656,032. The trade was a 31.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Community Trust Bancorp Stock Performance

CTBI traded down $0.39 on Monday, reaching $78.48. The company had a trading volume of 17,424 shares, compared to its average volume of 97,387. The stock has a market cap of $1.43 billion, a P/E ratio of 13.15 and a beta of 0.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.94. Community Trust Bancorp, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $79.92. The company’s fifty day moving average is $73.81 and its 200 day moving average is $67.04.

Community Trust Bancorp (NASDAQ:CTBI) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.12. Community Trust Bancorp had a net margin of 25.55% and a return on equity of 12.52%. The firm had revenue of $78.49 million during the quarter, compared to the consensus estimate of $76.85 million. As a group, analysts predict that Community Trust Bancorp, Inc. will post 6.41 earnings per share for the current fiscal year.

Community Trust Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Community Trust Bancorp’s previous quarterly dividend of $0.53. Community Trust Bancorp’s payout ratio is 35.51%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Zacks Research cut Community Trust Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Piper Sandler boosted their target price on shares of Community Trust Bancorp from $76.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of Community Trust Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective on shares of Community Trust Bancorp in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Community Trust Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Community Trust Bancorp during the fourth quarter worth about $1,892,000. Fifth Third Bancorp bought a new position in Community Trust Bancorp in the 1st quarter valued at about $844,000. Lazard Asset Management LLC acquired a new position in shares of Community Trust Bancorp in the 1st quarter valued at approximately $1,555,000. Y Intercept Hong Kong Ltd acquired a new position in Community Trust Bancorp during the first quarter valued at approximately $994,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Community Trust Bancorp by 114.0% during the 1st quarter. Janus Henderson Group PLC now owns 192,413 shares of the financial services provider’s stock worth $11,684,000 after buying an additional 102,488 shares in the last quarter. Institutional investors and hedge funds own 60.20% of the company’s stock.

About Community Trust Bancorp

Community Trust Bancorp, Inc is a bank holding company headquartered in Pikeville, Kentucky. As the parent of Community Trust Bank, the company provides a comprehensive range of banking services to individuals, families and businesses throughout eastern Kentucky, southern West Virginia and northeast Tennessee. With origins dating back to the early 20th century, the organization has built a reputation for supporting community development and regional economic growth across the Appalachian region.

The company’s personal banking offerings include checking and savings accounts, consumer installment loans, home equity and mortgage lending, as well as online and mobile banking platforms.